Monday, December 17, 2012

They're Back For More

Knock, knock, knock.   It's the Chinese again and they're back for more Canadian energy resources, this time shale gas.

Oh I know it's barely a week since Harper supposedly promised the Nexen takeover was a one-time thing, the last time the Beijing Communist apparatus would get its grubby commie hands on our innocent, virginal resources.   But, hey, that's a week ago!  Get over it.  Nothing lasts forever.

This time the Chi-Coms (for any Korean War vets out there) are pocketing a 49.9% ownership slice of Encana's Duvernay shale project.   And this time the Chinese government is using Petro-China instead of CNOOC.

The announcement came less than a week after Harper approved a $15.1 billion takeover of Alberta oil sands producer Nexen by CNOOC, another oil and gas giant controlled by the Communist government.

The Prime Minister said at the time the acquisition marked “not the beginning of a trend, but rather the end of a trend.”

Canadians have not spent years reducing the ownership of sectors of the economy by our own governments, only to see them bought and controlled by foreign governments instead,” Harper said.

Oh Steve, you're such a kidder!   But you better get cracking.  You've got all those hundreds, soon to be thousands, of Chinese guest workers to greet.   And don't forget to bring the TimBits.


Anyong said...

So Harper will be sneeking off to Russia to sign another contract with the Chinese no doubt. He loves making decisions in some other country other than his own.

The Mound of Sound said...

Sigh. With principles as flexible as Steve's anything is possible.